HomeMy WebLinkAbout028-04RESOLUTION NO. 28-2004
AUTHORIZING THE TOWN MANAGER TO EXECUTE AN AFFORDABLE
HOUSING AGREEMENT FOR THE BELOW MARKET RATE UNIT REQUIRED
TO BE ESTABLISHED WITHIN THE NINE-UNIT CONDOMINIUM PROJECT
AUTHORIZED FOR DEVELOPMENT AT THE NORTHWEST CORNER OF EL
PINTADO ROAD AND EL PINTO ROAD (PINTADO POINT)
WHEREAS, on September 17, 2002, the Danville Town Council adopted Resolution
No. 100-2002, approving Preliminary Development Plan - Rezoning request PUD
2001-01 and Final Development Plan/Major Subdivision request SD 8662
authorizing construction of a nine-unit condominium project on the 0.57+/- acre
property located at the northwest comer of E1 Pintado Road and E1 Pinto Road
(being further identified as APN# 197-100-016); and
WHEREAS, the multiple family residential project was approved with a density
bonus, allowing a project density of 15.8+/- units per acre, reflecting a density
bonus of 30-plus percent over the base-line allowable density for the property; and
WHEREAS, by way of receiving a density bonus of 30-plus percent, the project
developer is required to enter into an agreement with the Town of Danville assuring
the affordability of one of the nine units in the project for a minimum period of 30
years; and
WHEREAS, for the subject project, the affordable unit is required to be deed
restricted to regulate its use as a low-income for-rent unit or, where the affordable
unit is converted to a for-sale status, to be sold at a below market rate to a qualifying
low-income household; and
WHEREAS, the project developer is required to execute an Affordable Housing
Agreement ("Agreement") with the Town of Danville regulating the use and
occupancy of the low-income for-rent unit, and, as may become applicable, the use,
occupancy and ownership of the low-income unit where it is converted to a for-sale
status; and
WHEREAS, promoting the development of affordable housing within the Town of
Danville is a goal of the Danville Housing Element; and
WHEREAS, the Town Council reviewed the Agreement Prepared for the project on
April 6, 2004; and
WHEREAS, a staff report was submitted recommending that the Town Council
approve the agreement for the affordable housing unit in the Pintado Point
condominium project; now, therefore, be it
RESOLVED, that the Danville Town Council hereby finds that the agreement
regulating the occupancy, sale and resale for the affordable housing unit in. the
Pintado Point condominium project to be developed within PUD 2001-01 and SD
8662 is appropriate; and, be it further
RESOLVED, that the Danville Town Council hereby authorizes the Town Manager
to execute the Affordable Housing Agreement with the developer of the Pintado
Point condominium project in the form as submitted to the City Clerk, together with
such changes as may hereafter become necessary, provided such changes do not
materially increase the obligations of the Town.
APPROVED by the Danville Town Council at a regular meeting on April 6, 2004 by
the following vote:
AYES: Arnerich, Doyle,
NOES: None
ABSTAIN: None
ABSENT: None
Andersen,
Shimansky, Stepper
MAYOR, /
APPROVED AS TO FORM:
CITY ATTORNEY
ATTEST:
CITY CLERK
PAGE 2 OF RESOLUTION NO. 28-2004